Standard Structure-SBA
Total 504 Project $1,000,000
Sources of Funds
Bank $500,000
SBA 504 Program $400,000
Equity $100,000
Total $1,000,000
Uses of Funds
Property acquisition $700,000
Improvements $280,000
Contingency & soft costs $ 20,000
Total $1,000,000
The SBA 504 loan proceeds were used for the purchase and improvement of an existing two story building in the City of Pittsburgh.
The move from their current facility will provide additional space needed for expansion.
Twelve new jobs will be created within the next two years as a result of the 504 project.
State Loan Participation-SBA
Total 504 Project $827,500
Sources of Funds
Bank $413,750
SBA 504 Program $165,500
State Loan Program $165,500
Equity $ 82,750
Total $827,500
Uses of Funds
Purchase Land $250,000
Building Construction $550,000
Professional Fees $ 27,500
Total $827,500
Project loan proceeds will fund the purchase of 6 ½ acres of land including a house which will be used for offices, and the construction of a new 12,000 square foot building.
At least five new full time equivalent jobs will be created within two years which will meet the SBA job creation requirement.
Machinery and Equipment-SBA
Total 504 Project $1,075,000
The business will meet the SBA’s Public Policy Goal of rural development and also the Community Development goal of assisting manufacturing firms.
Sources of Funds
Bank $537,500
SBA 504 Program $337,500
Equity $200,000
Total $1,075,000
Uses of Funds
Machinery & Equipment $1,063,000
Furniture & Fixtures $12,000
Total $1,075,000
Loan proceeds will fund the purchase of new and used machinery and equipment and a small quantity of furniture and fixtures for this start-up manufacturing company.
The business will meet the SBA’s Public Policy Goal of rural development and also the Community Development goal of assisting manufacturing firms. The business will also satisfy the SBA job creation requirements by creating 16 new full time equivalent jobs withintwo years.
Standard Structure-EDA County
Total Project: $150,000
Sources of Funds
Bank $80,000
EDA-County $50,000 (33%)
Equity $20,000
Total $150,000
Uses of Funds
Purchase Real Estate $80,000
Improvements $50,000
FF&E $40,000
Working Capital $15,000
Total $150,000
RDFC’s EDA County loan will be utilized for the acquisition of property and for the purchase of state of the art equipment. |
